De La Rue Share Discussion Threads

[masurenguy] 24/4/2024 07:26

"Pre-close trading update

De La Rue plc gives a trading update for the financial year ended 30 March 2024 ("FY24").

For FY24, the Group expects adjusted operating profit to be in line with guidance previously given, in the low £20m range. Net debt is expected to be around £90m, which is marginally better than previous guidance. In addition, the Authentication division is expected to report revenue in excess of £100m, as previously targeted. The Group's results for the period ended 30 March 2024 will be announced on 18 June 2024. As previously noted, the Board intends to provide an update by 31 May 2024 on progress in optimising the underlying intrinsic value of the business for the benefit of all stakeholders.

[boll] 24/4/2024 00:07

Thanks Wbodger. Your explanation gives a bit more understanding also explains why they are in no rush to dispose at the moment

[wbodger] 23/4/2024 22:00

CA position probably depends on another investment they have, an unlisted company that is waiting for approval of a medical procedure to treat diabetic obesity. With approval they can get a market valuation of that investment which seems to represent a bigger chunk of their valuation than their 17% of DLAR. The DLAR holding is at least quoted, so they can assign a credible value to it.

CA's Interim Results (28/3/24) did not give any hint of when an exit from DLAR might be possible (eg, a bid) and regulatory approval of their obesity remedy was "expected in the coming months". If the obesity remedy is approved and CA can monetise that investment, they might look for a trade buyer for the DLAR holding without waiting for a bid. IMO, DYOR.

[boll] 19/4/2024 18:37

The amnouncement prior to 31 May would I believe be a precursor to deciding the future direction of the business. Management have historically considered that the business works better as one rather than split into constituent parts. Maybe this is about to change. CA also don't seem to be in a so much of a hurry to sell so maybe they expect the trading to improve as the new contracts come in.

[mickyl] 17/4/2024 16:23

I think a bid/offer would have to be tabled in order for them to release a statement. Perhaps no offer has been forthcoming.

[jensen10] 17/4/2024 09:56

I hope so too but I find it a bit curious that they have a fixed timeline to announce the takeover. They would be obliged to announce they are in talks with the usual caveats. A fixed timeline usually implies an internal strategic review. Maybe that then flushes out a bit.

[mickyl] 17/4/2024 09:51

Possibly but I wouldn’t see that as giving value to stakeholders ie shareholders. If anything selling the future ie authentication would be seen as giving away DLR best chance of future revenue streams which will have a negative impact on valuation of the company.
I hope it’s a straight forward takeover or a merger. The brand is valuable.
Fingers crossed they know what they are doing.

[jensen10] 17/4/2024 09:41

Or a restructuring/divisional sale of authentication

[mickyl] 17/4/2024 09:32

Trading statement today reiterated the financial position with slightly better news on debt.
Interesting they restated the cryptic message relayed last time
“As previously noted, the Board intends to provide an update by 31 May 2024 on progress in optimising the underlying intrinsic value of the business for the benefit of all stakeholders.”
Sounds like a potential take over?

[mickyl] 09/4/2024 11:36

There must be a trading update due very soon re Q4 results. The silence is deafening. The last 2 updates were 6th Oct and the one before that was 12th April

[wbodger] 25/3/2024 17:46

CA Interims are due out on Thursday.

DeLaRue AGM for year ended 25th March 2023 (sic) was on September 7 and they put out Interim results for 2023/24 on December 19.

Clive Whiley indicated in the Interims that an update on trading in FY23/24 will be presented by May 31st.
"The Board is determined to utilise [December19th's] market update as a springboard to optimise the underlying intrinsic value of the business, for the benefit of all stakeholders, on which the company will provide an update before 31 May 2024."

[mickyl] 25/3/2024 10:30

Could be something in that. It’s unusual for CA to stay quiet for so long especially with them needing to sell up. Normally they would be agitating. Perhaps they are waiting for the end of year results which have promised improvement based on increased order books and reasonable half year.

[gargoyle2] 20/3/2024 10:36

Bidder still doing its due diligence...?

[jensen10] 20/3/2024 10:15

What is going on with this share? No news flow in 3 months, negligible daily trading volume and not a word from its largest and most vocal shareholder CA?

[mickyl] 07/3/2024 11:23

Hopefully an improving set of financials, as talked up by Clive Vacher re the market changing for the better, will spur the share price beyond £1.10. Takeover then a real possibility as business will be stabilising.

[meijiman] 05/3/2024 10:02

Well that would be amusing if it were to happen. didn't some French outfit bid over 700p for this crock some years ago? Rejected. In reality there is and was no alignment of interests between management (at that time) and shareholders.

[masurenguy] 05/3/2024 09:34

I think DLAR will be taken over, probably by a US predator, this year.

[shrewdmole] 05/3/2024 09:00

Surely that just depends on the takeover pricing? Looks to be a win/win business improving, outlook improving and a possible takeover target.

[harry_david] 15/2/2024 15:09

I don't want a takeover myself, market conditions are moving favourably, especially for bank note demand which appears to have been a pleasant surprise. Let's hold out for well over £2.

[kooba] 15/2/2024 09:22

...a robust pipeline of opportunities for disciplined M&A.The Crane NXT ( $3.4b market cap) businessImportant subsidiarieshttps://www.craneauthentication.com/https://www.cranecurrency.com/

[kooba] 14/2/2024 21:36

Strong results from Crane..Aaron W. Saak, Crane NXT's President, and Chief Executive Officer stated: "We delivered a strong close to 2023, underpinned by outstanding operational performance from both our businesses. We achieved adjusted EPS of $4.16, exceeding the high end of our guidance, as well as generating 4% growth in core sales, and expanding our adjusted segment operating margins by 30 basis points year over year."Mr. Saak continued: "With this solid foundation in place, we are well-positioned to execute on our strategy, both organically and through acquisitions. We have a strong and flexible balance sheet, ample liquidity, and a robust pipeline of opportunities for disciplined M&A. As we look to 2024 and beyond, we have a clear path to build on our success, expand the business, and drive long-term, sustainable shareholder value."Currency saw good tenure growth and improved margins.

[soleman1] 01/2/2024 13:11

Then big gap up to 150p

[mickyl] 01/2/2024 12:44

Broken through 90p barrier. Next charted resistance 104p

[kooba] 20/1/2024 08:28

As I've said before i think the company is a sitter for a takeover approach before it has time to recover further ..if the offer reflects the strategic market position and that recovery potential it might well succeed with CRS and RG now holding over 25%..but it would still have to be a decent premium. Maybe what he is looking for?

[mickyl] 19/1/2024 19:20

It’s interesting that an Investor like Griffiths is still investing at 85p. He clearly thinks there is mileage in the company. I think it’s sad about the Gateshead plant. It was once the flagship with an enviable reputation!